In a welcome relief to jittery markets, China and Hong Kong shares saw modest gains on Tuesday after U.S. President Donald Trump deferred proposed tariff hikes on Chinese goods. This move offered temporary respite to investors, reflected in the uptick in indices.
By midday, the Shanghai Composite index had increased by 0.2%, settling at 3,249.85 points after fluctuating in earlier sessions. The blue-chip CSI300 index also climbed 0.4%, with notable surges in the real estate and semiconductor sectors.
Meanwhile, Hong Kong’s Hang Seng Index rallied by 1.1%, marking a new five-week high. Property stocks notably rebounded, buoyed by significant developments from major players like China Vanke and Country Garden, signaling potential improvement in first-tier city sales.
(With inputs from agencies.)